International logistics specialist, Rhenus Logistics UK, is urging manufacturers to take advantage of emerging export opportunities during the current economic climate.
A new survey by the Markit/CIPS purchasing managers’ index (PMI) has revealed that the weakening pound has boosted exports as UK goods become cheaper for overseas buyers.
Since the Brexit vote, the pound has fallen in value by more than 10% against both the US dollar and the Euro, but for exporters, the drop in sterling makes their goods cheaper overseas and could help increase demand.
David Williams, Managing Director at Rhenus Logistics, commented: “Although the weakening of the pound has increased the cost of goods imported into the UK, it has resulted in a welcome demand for UK exports as Europeans enjoy bargain prices.
“If firms can switch their priority from domestic sales to exporting, they could benefit. We are calling on UK manufacturers to be as flexible as possible if they want to benefit from the current economic environment and boost their profit margins.”
The latest PMI survey shows that export orders are rising at their fastest rate in two years.
As one of the world’s leading freight forwarders and logistics specialists, Rhenus UK is well placed to recognise that manufacturers should not rest on their laurels, but explore alternative ways that they can make money, taking advantage of emerging opportunities.
With 75 years of performance in services direct to overland markets and global destinations, the Manchester-headquartered firm has a turnover in excess of £60 million and employs 270 people across 13 strategically-placed locations throughout the UK and Ireland. It is continuing its journey of success by recently expanding its direct services to and from other key countries.